Axos Invest vs M1 Finance Comparison: Fees, Features, and More (2026)

Axos Invest and M1 Finance are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Axos Invest vs M1 Finance (2026)
Feature Axos Invest M1 Finance
Website https://www.axos.com/invest https://www.m1finance.com/
Broker Type Discount Self-directed discount brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 per trade (other fees may apply) $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? No Yes (to 1/100,000th of a share)
Percent Allocations? No (self-directed) Yes (M1 Pies with custom target % allocations)
Crypto Trading? No Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees N/A Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? Yes (subject to approval) No
Options Fee $1.00 per contract ($0.80 with Axos Elite, $10/mo) N/A
Bond Trading Available? No No
Receives payment for order flow (PFOF)? Yes (receives PFOF rebates) Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes Yes (web m1.com and iOS/Android apps)
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? Yes No
Total Mutual Funds 10,000+ None
NTF Mutual Funds 10,000+ (no-load) None
Non-NTF Fund Fee $0 (no-load) N/A
Early Redemption Fee? Yes (no broker short-term fee listed) N/A
Redemption Hold (Days) None listed by broker (fund-specific possible) N/A
Early Redemption Fee $0 (no broker fee listed) N/A
Accounts: Margin Accounts? Yes (self-directed; approval required, $2,000 min equity) Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs.
IRAs Offered? Yes (Traditional, Roth, Rollover; SEP not listed) Yes; Traditional, Roth, and SEP IRAs available ($500 minimum).
HSAs Offered? No No
Money Market Sweep? Yes (Axos Clearing Insured Deposit Program) Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required).
CDs Offered? No No
Robo-Advisor: Offered Yes No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory)
Robo-Advisor Service Axos Managed Portfolios M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees Model fee 0.20–0.59% AUM (varies by model/AUM); $40 min annual if model fee <$10/qtr; +0.20% optional TLH ($25k+) $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters Las Vegas, NV Chicago, IL
Year Founded 2009 (as WiseBanyan); rebranded 2019 2015
Clearing Firm Axos Clearing LLC M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? No No
New Account Minimum $0 (Self-Directed); $50 IRA; $500 Managed Portfolios $100 (individual/joint taxable); $500 (IRAs)

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